The U.S. Department of Justice has concluded its investigation into possible violations by Hyperdynamics of the Foreign Corrupt Practices Act (FCPA) in Guinea. The DoJ did not bring any charges against the oil company.
Ray Leonard, President and CEO, commented, “This is an important development for Hyperdynamics. We are extremely pleased to be informed that the DOJ has closed its inquiry into this matter.”
As previously disclosed, both the DOJ and SEC issued subpoenas to Hyperdynamics concerning possible violations of the FCPA and other laws. The SEC investigation has not yet been resolved.
In a letter sent to Hyperdynamics, the DoJ says: “Based upon the information known to the Department at this time we have closed our inquiry into this matter. If we obtain additional information or evidence in the future regarding this matter, we may reopen our inquiry.”
Back in 2013, when Hyperdynamics first announced it was under investigation, it said DOJ was investigating whether Hyperdynamics’ activities in obtaining and retaining concession rights offshore Guinea, and the company’s relationships with charitable organizations potentially violated the U.S. Foreign Corrupt Practices Act or U.S. anti-money laundering statutes.
Offshore Energy Today Staff